08:42 AM EDT, 08/15/2024 (MT Newswires) -- Cornish Metals ( SBWFF ) said Thursday that it trimmed its comprehensive loss for the second quarter.

The company's share price jumped 9.1% to 6.70 pounds in early afternoon London Stock Exchange trading following the news.

Cornish booked a total comprehensive loss of $587,052, or a loss of $0.00 per share, narrowing from a loss of $1.0 million, or a loss of $0.00 per share.

The result was driven by a foreign currency translation gain of $977,535 compared to a loss of $334,156.

"Momentum and activity levels have remained high since the start of the year as the Cornish Metals ( SBWFF ) team continues to progress work plans and accomplish key milestones," said Ken Armstrong, interim CEO.

Cornish continues to advance the South Crofty tin project in the U.K. towards commencement of production in 2027.